I have a strange feeling that it will, politically it's a very popular currancy and I reckon that will make further political integration possible. The cost will be astronomical though and the economy of the Eurozone is going to take decades to recover.
Since dumping the current Euro would mean enacting separate trade tariffs and agreements, that there would be multiple currencies, that they'd have to drop the idea of a sovereign super government controlled largely by German Banks,,,
They'd finally remember why they fought World War ll and Adolf would quit howling with glee from his grave.
I never kid unless I mean it.
Yeah, since our dollar is backed by debt and is mostly digital (the Euro is too) why not just Dumb Dollars and Euro Dumbkaufs?
I hope so. But I think Merkel needs to recognize that austerity to protect bankers is not working. She wants austerity and then closes the other door by refusing German backed common debt. A bad move on her part.
Just look at Iceland. They made the bankers pay the price of their corruption and are recovering quite nicely. All other nations should have followed suit, but, no, instead governments want to protect the wealthy at all costs and that is the greatest threat.
BTW, has Croatia joined yet or are they remaining sane?
Yep they should let the whole lot fail.
If France sticks with the program, then the Zone will survive. Greece will surely go and go soon. Spain will bite the bullet, as will Ireland. Hard to say with Portugal and Italy. But if France bails, there will be one, large, strong currency in Europe, the Deutschmark and, of course, the GBP. The Swiss Franc will continue to be strong, but the Francs of France and Belgium will slip, as will any other European currency. The EU will continue, but without the Euro.
It's more of a coin toss than a roll of the bones. The continent will still benefit from reduced tariffs, so most countries will want to continue with them, even with floating currencies. There will be exceptions, those countries that do only so much trading anyway because they are thick-headed and reactionary. They will retreat further to the periphery as ambitious countries like the Czech Republic, the Baltic countries, Poland, and Croatia move ahead and become real players, increasing individual wealth and happiness.
That is not a bad thing to me. I would not want the Germans or the French telling me what to do.